JSW Infrastructure Limited — PPTs, 13-05-2025: Investor Presentation

1. Financial Highlights:

JSW Infrastructure handled 117 million tonnes (MT) cargo in FY25, up 9% YoY, with third-party cargo growing 34% to nearly half of total volumes. Revenue increased 20% to ₹4,829 Cr, EBITDA rose 17% to ₹2,615 Cr, and net profit jumped 31% to ₹1,521 Cr. Operating margins stayed strong at ~54%. Net worth rose to ₹9,329 Cr with RoCE steady at 14.3%. Net debt/EBITDA was 0.65x, supported by ₹4,659 Cr gross debt and ₹3,188 Cr cash reserves.

2. Strategic Initiatives & Growth Drivers:

Targeting port capacity growth from 177 mtpa to 400 mtpa by FY30 through low-cost brownfield expansions and new greenfield ports. Key expansions include Dharamtar and Jaigarh ports (36 mtpa combined), LPG terminal at Jaigarh (2 mtpa), and greenfield projects at Keni and Jatadhar (30 mtpa each). Capex guidance of ₹9,000 Cr for FY25-30. Logistics growth accelerated via acquisitions (Navkar Corporation majority stake) and multimodal cargo terminals under GatiShakti.

3. Business Developments:

Interim operations commenced at JNPA Liquid and Tuticorin terminals. Acquired slurry pipeline business with long-term take-or-pay contract and secured LOI for greenfield Murbe Port, Maharashtra. Brownfield expansions progress with timely dredging and construction. Container terminal and liquid berth expansions continue to diversify cargo mix and improve throughput.

4. Market Position & Competitive Advantage:

India’s second-largest private port operator with strategically located deep-draft ports on both coasts, offering multi-modal connectivity and integrated supply chains. Diverse cargo mix and rising third-party volumes strengthen scale and pricing power. Synergy with JSW Group ensures steady cargo flow while expanding into logistics and pipeline sectors enhances competitive edge.

5. Investor Implications:

Strong financial and operational momentum backed by clear expansion plans and strategic acquisitions point to positive growth potential. Healthy balance sheet supports aggressive capex while increased third-party cargo reduces concentration risk. Execution of large greenfield projects and scaling logistics business remain key factors to monitor. Positioned well to benefit from India’s infrastructure push and port modernization trends.